How do smarter firms & their fee earners win more business? 21 st October 2011 A workshop facilitated by Bernard Savage, Managing Director
Oct 19, 2014
How do smarter firms & their fee earners win more business?
21st October 2011 A workshop facilitated by Bernard Savage, Managing Director
Technical expertise is not enough
You must juggle responsibilities
Technical delivery Selling (Marketing & Business Development)
Team responsibilities
What will we cover today?Today’s objectives
To give you the confidence, focus & actionyou need to take to turn relationships into business
Tenandahalf story
1986 - 1990 1990 - 2000 2000 - 2002
2002 - 2004 2005 -
How to Sell Professional
Services
Module 1
“how you think about business development will to a large extent determine the outcome” Bernard Savage
What attributes do you need to sell professional services? What attributes do you need to sell ?
Positive attitude
Do you “engineer serendipity”?
Are you enthusiastic & passionate in your conversations?
People buy from people
FocusHow clearly can you describe your targets?
What does success look like for you?
How is your activity connected to your marketing plan?
Are you fishing in the right ponds?
Excellent communication
Are you actively listening to your clients?
Do you really understand what the market wants?
How much time do you spend listening to your clients?
Drive
Enthusiasm and energy is infectious
Follow a systemWhat system are you using to attract new business?
How many conversations you need to generate potential opportunities?
It’s a numbers game!
Cold Prospects (identified as having potentially great potential)
Warm Leads
Opportunities
Proposals & Quotes
New Customers
Goal orientated
What gets measured gets done
Keep it simple, easy to maintain, & transparent
Take action
So what?How you are wired – how you feel about selling – will determine your success
Do you really want to adopt a winning mindset ?
Make a commitment and talk to yourself!
Remove scepticism and cynicism
Think positively and talk to yourself
Be disciplined and banish all hindering thoughts
Adopt new habits
Use CATs to boost confidence
“Come on you can do it!”
“I’m determined to get this done”
“Keep smiling”
“I’ve done this before – I can do it again!”
“Stay confident”
“Think of the benefits when
you finish”
Positive Capability Affirming Thoughts (CATs)
“I will make that phone call
NOW”
“I am going to enjoy this
event”
Winners all apply psychology to build on their technical excellence
Focus on making small steps
What does marketing activity this month look like?
How many conversations do you need to have this week?
Who do you need to contact today?
Break down your plans into bite sized goals
BIG GOAL: Run Marathon (26.2 miles) One year from today
Key Milestone 23 miles 11 months
Key Milestone 19 miles 9 months
Key Milestone 13 miles 7 months
Key Milestone 9 miles 5 months
Key Milestone 4 miles 3 months
Understanding how professional service buyers think & behave
People buy on emotion first, logic second
Your clients will assume that you are technically competent. Technical competence will not be the critical reason that someone instructs you
Professional likeability is critical
Show empathy & put yourself in your clients’ shoes
Have you visited your clients premises recently?
Do you buy your clients products & services (or competitors)?
…and Don’t Sell!
Be visible and let people buy from you
‘Stop Selling & Drink Coffee!’
Questions for you to answer
How are you going to build an emotional connection with your clients and prospects?
How are you going to stay visible with your personal key contacts?
How to influence, build profile & stay
visible
Module 2
“successful marketing is about intelligent elbow grease – do the right things & do them often. You must stay visible to make it easy” Bernard Savage
b
Fees secured or expected based on existing client repeat business & brand
Fees unsecured
£ budget/ revenue target‘Coffee’SpeakingPressNetworking‘Saw this & thought of you’Referral strategyE marketingOn line
Your Sales Pipeline
Lead
Gen
erati
on
Prospects
Pitches
‘Coffee’ Conversations
£
Lead Generation model
Be strategic in marketing activity
……….or is this more typical?
“we always have a golf
day”
“we need to refresh our
website because the
executive think it looks dull”
“its time to print a new brochure”
“a new corporate id will make us look more modern”
“xxxx always
sponsor events”
“the magazine said that they have a special
offer if we advertise in
the Dec issue”
There are no silver bullets to close sales
To influence your target ‘touch them’ 6-8 times across 12-18month period
Use a variety of different methods to attract your prospect
Seminar invitation
Telephone Email Face to FaceCommunication format
Video conference
Marketing
activities
Newsletter Hospitality Networking event
Send an article
of interest
Provide a referral or introduction
Hand written Thank You
noteCase Studies
Support charity
Speak at Team Meeting
Provide FREE training Podcast
On line, eg extranet
or blog
PR
Write article for prospect publication
Testimonials
Stay very close to your friends (clients & potential referrers of work)
Investing in client development (the right ones) is ten times more productive from a marketing perspective than chasing prospects
Client retention is more profitable
Increase in client retention of 5% leads to an increase in profitability of 14%, yet an increase in new business of 5% only delivers an increase in profit of 5%Source: Bain & Co consultancy
Immerse yourself in clients world
Read trade press; attend conferences; visit clients location; understand key issues; talk their language….what else?
Face to Face Phone
E-mailMail
Increase focused client contact
On line
Press
SMART objectives for Key Clients
Specific
Measurable
Achievable
Realistic
Timelines
Okay Bernard, so what exactly do I need to do?
1. Don’t sell, drink coffee
Demonstrate empathy to build trust – simply ask questions & listen attentively
Success is creating a dialogue, not a sale
What the prospect does What do you do?Tell me more about…..What is the company’s strategy?What kinds of projects are you personally handling now? How the prospect does that How do you do it?Tell me more about…..How is the company reacting to [the current economic downturn]?How do you differentiate versus your competition? When and where the prospect does what he does When and where do you do it? Tell me more about…..What are your plans for….?Where do you hope this….leads you?
Why the prospect does it that way Why do you do it that way?What are the advantages for you of doing it that way?Why did you decide to call us today?Who is involved in making the final decision to….? Who the prospect is currently working with Who are you doing it with?What do they do well?What areas do you feel could be improved?What is the reputation of xxxx in the market place? Whether and how you can help the prospect do what he does better How can we help you do it better?How are you going to choose who you’ll be working with?Have you ever worked with another company like ours before?What kinds of relationships are you hoping to develop in the future?
Questions to ask at ‘coffee’ meetings
2. Speak at trade events
You will build profile & thought leadership credentials
Change from ‘interruptive’ to ‘permission’ communication
You have a captive audience to communicate with
Its more cost effective than just attending events
3. Follow up within 72 hours of networking events
Sell the ‘coffee’ not your credentials
Friendly & informal tone of voice
Email is easier than phone
Don’t limit follow up to just those people you met
Just email and say“Hi John,
Good to meet you at xxxx yesterday. Hope your head is not as sore as mine this morning!
I am in yyyyyyy 21st Nov and would love the opportunity to learn more about ..... Have you got 30 minutes for a coffee?
If this doesn’t work, perhaps you can suggest alternatives in Dec – perhaps we can meet on a future visit to yyyyy – planning another visit 4-6 weeks later?
Kind regards
Peter
4. Get articles published – both print & on line
What trade press do your clients & targets read?
Participate in LinkedIn groups
How?
Identify what your targets read & cultivate relationships with journalists of publications
Find out publication forward featuresWrite interesting articles that fit tone of voice
of publication – make it easy to get placed
Embrace on line media
Segment groups you want to influence & research where & how they communicate
What problems do you see on forums?
5. ‘Saw this and thought of you’ hand written note
Send articles of interest, eg best practice
Provide market intelligence
Your aim is to stay front of mind & show you care
6. Ask for referrals & testimonials
You are mitigating risk for potential buyers
Embarrassment AwkwardnessNot the
British way
Fear of rejectionNever
think of itDoesn’t seem professional
If they knew someone, they’d probably mention it anyway
Perhaps we don’t ask because………
Please mention my name & here’s what you need
to know V
alue
of r
efer
ral
Different types of referral
Valu
e of
refe
rral
Different types of referral
I’ll call, email or write for you
Valu
e of
refe
rral
Different types of referral
I’ll set up a meeting & make the introductions
You might say
“We want to grow our business and I’d appreciate your advice on who you think I should be talking to”
“Would you feel comfortable recommending us?”
“Who do you know who might also appreciate the services we have provided you?”
7. Case studies & testimonials
Show that you understand the prospect’s position
Paint pictures of profiles of clients you have helped (Context, Action, Result)
You can protect anonymity
Focus on building trust
Rapport Share intelligence Provide introductions Deliver on promises Be consistent
How you can win new business: Your 7 winning sales strategies
1. Don’t sell, drink coffee (focus on building relationships, not fees)
2. Speak at trade events3. Follow up (quickly)networking activity4. Get articles published (on & off line)5. ‘Saw this & thought of you’ 6. Referral strategy7. Case studies & testimonials
What action are you going to take?
Plan the work; & Work the plan
Make a commitment to do something; do a little & often
Measure activity
Bernard T: 0777 189 7772 E: [email protected]
Douglas T: 0778 654 0191E: [email protected]
Office T: 0115 9247106E: [email protected]: www.tenandahalf.co.uk